As per suppliers in West Bengal & Odisha - East India, there is spurt in prices however no inquiries from Bangladeshi mills and buyers willing to book material at similar price of last week at around USD 350/MT CFR Chhittagong.

In a week, Sponge prices in Eastern India rose by INR 1,000-1,200/MT (USD 15-18) due to seasonal low supply amid steady demand. This has led to rise in export offers.

It will be interesting to see how the fresh deals will take place as per market participants assuming, the Indian domestic & export prices likely to remain strong due to seasonal supply crunch, likewise there is healthy bookings with the manufacturers.